Belpointe Asset Management LLC Decreases Stock Position in American Express Company $AXP

Belpointe Asset Management LLC cut its position in American Express Company (NYSE:AXP) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,555 shares of the payment services company’s stock after selling 142 shares during the quarter. Belpointe Asset Management LLC’s holdings in American Express were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in American Express by 4.3% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,530 shares of the payment services company’s stock valued at $2,721,000 after acquiring an additional 350 shares in the last quarter. Valley National Advisers Inc. raised its holdings in American Express by 10.7% in the second quarter. Valley National Advisers Inc. now owns 1,459 shares of the payment services company’s stock valued at $464,000 after acquiring an additional 141 shares in the last quarter. Fishman Jay A Ltd. MI raised its holdings in American Express by 4.1% in the second quarter. Fishman Jay A Ltd. MI now owns 47,577 shares of the payment services company’s stock valued at $15,176,000 after acquiring an additional 1,895 shares in the last quarter. Cullinan Associates Inc. raised its holdings in American Express by 1.9% in the second quarter. Cullinan Associates Inc. now owns 54,805 shares of the payment services company’s stock valued at $17,482,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Chung Wu Investment Group LLC acquired a new stake in American Express in the second quarter valued at $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on AXP shares. BTIG Research set a $277.00 price target on shares of American Express and gave the company a “sell” rating in a report on Monday, July 14th. Barclays increased their target price on shares of American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday. William Blair reissued an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Morgan Stanley increased their target price on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $323.55.

American Express Stock Down 1.3%

American Express stock opened at $327.61 on Wednesday. The company has a 50-day simple moving average of $320.81 and a 200-day simple moving average of $299.26. The firm has a market capitalization of $227.98 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a one year low of $220.43 and a one year high of $349.19.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.49 earnings per share. As a group, equities analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express’s dividend payout ratio is currently 23.02%.

Insider Buying and Selling at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.